A complaint has been filed against Greenwich Pharmaceuticals Inc.(NASDAQ:GRPI) alleging that its directors, one executive officer andan employee, issued false and misleading statements about thecompany's drug, Therafectin. In January, the FDA's Arthritis AdvisoryCommittee recommended against approval of the drug, citing itsapparent lack of efficacy as a treatment for rheumatoid arthritis.The plaintiff, described by the company as a "purported stockholder," isseeking class-action status and requested that the class period beextended through Feb. 1, 1994. The complaints made in the suit aresubstantially the same as five others filed against the company in 1992after the FDA required Greenwich to provide additional Phase III trialdata before filing a new drug application for Therafectin. The five suitswere granted class-status later that year. The plaintiff in the new suithas designated his complaint as related to these class-action complaints."We intend to deal with this complaint in the same manner as similarand related complaints that are already being defended," Jeff Randall,Greenwich's chief financial officer told BioWorld.
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